Types of Working Capital How to Calculate

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To proceed with customs clearance, a customs declaration must be submitted along with the Permanent Account Number (PAN) and all cargo documents. This declaration can be submitted via oman telegram number database Electronic Data Interchange. If the declaration is submitted via an alternative route, additional documents such as certificates, invoices and details of the origin of the cargo are required.

In the case of online registration, the cargo declaration replaces the traditional customs documents; Settlement of duties and taxes. Import duties in India include basic tariffs along with anti-dumping, safeguard and social duties. Some goods are subject to integrated Goods and Services Tax (IGST) on import. Certain goods are subject to mandatory certification (IQS) when imported into India: electrical appliances; some types of cement; electrical switches; plastic bottles for baby food; diesel engines; X-ray equipment.

The full list of goods that can be imported from the country is listed in Section 11 of the Customs Act (1962). To encourage exports, India has introduced preferential export credits, duty-free import of raw materials, simplified the process of issuing certificates of origin through a digital platform, and developed a transport and marketing assistance scheme for a number of agricultural products.